Banks are shutting their doors to the poor. The alternative? Microfinance institutions & NBFCs, often charging 200% interest. This silent crisis is pushing India’s most vulnerable into despair. This week on In Public Interest, @ahmed_shabbir20 speaks to Thomas Franco on how predatory lenders are thriving while banks retreat. Watch the full video on TNM’s YouTube channel. Link in bio. #InPublicInterest #Microfinance #Debt #TheNewsMinute | TheNewsMinute

The 1990s marked a turning point for microfinance in India. A new wave of Microfinance Institutions (MFIs) emerged, many operating as non-profits or specialised finance bodies. Their mission was clear: offer microcredit to the underserved and economically vulnerable who had little to no access to formal financial services.​ While government-led schemes had initiated the journey, these institutions carried it forward, creating a more structured, sustainable, and far-reaching microfinance ecosyste